INVESTOR BOON: Kyogle ready to grow
KYOGLE investors now have longer to save hundreds of thousands of dollars on new housing and industrial lots after council extends its offer to waive developer charges and contributions.
Last March, Kyogle Council adopted a bold initiative to stimulate development and open new housing and industrial lots by waiving developer charges and contributions in its Development Contributions and Charges Discounting Policy.
Last week, Councillors voted unanimously to extend the scope of its Development Policy, adding subdivisions to the list of developments.
Council also voted to extend the life of the policy to March 2022.
The move, which the council hopes will help grow its population base and boost economic activity throughout the LGA, could potentially save investors hundreds of thousands of dollars.
Under the policy, developers could save up to $26,000 a lot for new subdivisions.
The original policy waived development contributions and servicing charges to most developments barring subdivisions and heavy haulage developments.
In the 17 months since then, there has been an increase in development applications and approved projects being brought to construction throughout the Kyogle Local Government Area (LGA).
Council hopes the extended policy will attract further investment and stimulate economic growth.
Kyogle Council Mayor Cr Danielle Mulholland said Council was serious about promoting development in order to create jobs, grow local businesses and increase the choice of housing and land in the LGA.
"Council has clearly stated that it wants to see development happening,” Cr Mulholland said.
"This policy is unique to Kyogle Council and we are hoping people with approved developments will bring them forward, while prompting those considering a development to act now,” she said.
"As the policy is a generous incentive it cannot apply indefinitely, so people will need to take advantage of this opportunity by March 2022.”
"Kyogle is ready to grow and we've just made it much easier for investors to lead the way by waiving development fees, offering savings up to $26,000 a lot for new subdivisions.
"We are offering developer contribution-free investment opportunities potentially worth hundreds of thousands of dollars in savings.”
The Development Contributions and Charges Discounting Policy will apply to all newly approved development that is completed before the review of the policy in March 2022.
On application, the policy can also be applied to existing consents where the development consent is still current and the development has not been completed.